This paper takes as its point of departure the conflict between the project as an organisational form for time-limited task execution and the project as an organisational form for triggering knowledge development and learning. The aim of the paper is to explore how knowledge developed in ERP projects can be managed, as well as to identify potential influences on the management of knowledge developed in the project process. Qualitative data has been collected through interviews, document studies, and participant observations. The paper presents evidence that problems of keeping to budgets and timelines in ERP projects can depend on the fact that knowledge developed in the project process is also exploited in the project process. In order to bridge the conflict between the project as a time-limited form for task execution and an organisational form for knowledge development and learning, three tentative strategies for exploiting knowledge developed in the project process are suggested.